BYD plans push into India’s burgeoning EV marketBloombergChinese automaker BYD Co (比亞迪) is planning a bold push into India’s electric vehicle (EV) market, joining a rush of foreign peers jockeying for a bigger share of the world’s fourth-biggest vehicle market. Billionaire investor Warren Buffett-backed BYD is seeking to capture 40 percent of India’s EV market by 2030, Sanjay Gopalakrishnan, senior vice president of its local unit, said in an interview at the India Auto Expo on the outskirts of New Delhi. A BYD HAN electric vehicle is pictured in Toluca, Mexico, on Nov. 29 last year. While India is a value-conscious market, BYD will prioritize introducing higher priced vehicles to showcase its “premium” technology, and then slowly work toward mass-market vehicles, he said. BYD has invested US$200 million in its electronics and vehicle factories in India, he said.

Source: Taipei Times January 13, 2023 02:23 UTC